Annual Report 2021

China Merchants China Direct Investments Limited Annual Report 2021 114 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2021 5. FINANCIAL INSTRUMENTS (CONTINUED) Fair value measurement of financial instruments (continued) Fair value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis (continued) The Directors consider that the carrying amounts of financial assets and financial liabilities recorded at amortised cost in the consolidated financial statements approximate their fair values at both year ends. Level 1 Level 2 Level 3 2021 Total US$ US$ US$ US$ Financial assets at FVTPL 486,206,288 — 481,167,090 967,373,378 Financial liabilities designated at FVTPL 132,954 — 1,185,610 1,318,564 Level 1 Level 2 Level 3 2020 Total US$ US$ US$ US$ Financial assets at FVTPL 423,278,417 — 485,994,561 909,272,978 Financial liabilities designated at FVTPL 118,012 — 1,343,845 1,461,857